ART Bets Big on Yen Upside in Contrarian Bet
Australian Retirement Trust (ART), Australia's second-largest pension fund, has taken a contrarian bet on the Japanese yen.
The trust has built its largest overweight position in years, wagering that markets are underestimating the Bank of Japan's willingness to raise interest rates.
This move comes as ART bets on the yen upside, which could be driven by the BOJ's potential to hike rates faster than expected.